Koryo Tours

What Koryo Tours does

Koryo Tours is a privately held, British-owned tour operator founded in Beijing in 1993 by Nicholas Bonner, with co-founder Josh Green (operating since entering Rason in October 1995) and International Tours Manager Rich Beal (leading tours since 2004). It is the longest-running operator of Western tourism to the Democratic People's Republic of Korea (DPRK/North Korea), holding the exclusive travel-partner status for the Pyongyang International Marathon — a World Athletics Label Road Race — and claiming the highest percentage of Western tourists to North Korea since inception.

The company sells all-inclusive guided group tours, private independent tours (including Rason Special Economic Zone packages), specialist tours, and themed event tours (Pyongyang Marathon, Mass Games) at EUR 600-1,500 per person for DPRK itineraries. Since 2003 it has expanded into a portfolio of international expedition tours spanning Central Asia (Turkmenistan, Tajikistan, Kyrgyzstan, Kazakhstan, Uzbekistan), Mongolia, Russia and the Caucasus, the Middle East (Iraq, Syria, Yemen, Socotra), South Asia (Bhutan, Bangladesh, Timor-Leste), and Africa (Libya), priced USD 2,100-5,700 per person with 50% deposits. An adjacent subsidiary, Koryo Studio, handles documentary and feature film production, North Korean art exhibitions, humanitarian work, and sport initiatives.

Distribution is direct-to-consumer via the koryogroup.com website, email, phone, and WhatsApp, supported by content marketing (blog, travel guides, YouTube) and substantial earned media (National Geographic, CNN, BBC, The Guardian, FT, NYT, Vanity Fair). Regular DPRK tourism has been suspended since January 2020; only the Rason Special Economic Zone was open as of February 2025. Pricing is fixed per itinerary tier, all-inclusive (transport, accommodation, meals, local guides, visa assistance, pre-tour briefings), and limited to non-US and non-South Korean citizens for the DPRK products. The company operates with 11-50 employees and has no disclosed funding rounds, parent company, or institutional investors.

Name

Koryo Tours

Legal name

Koryo Tours

Website

https://koryogroup.com

Company type

Private

Founded year

1993

Operating status

Operating

Headcount range

11–50 employees

Short description

Koryo Tours is a British-owned, Beijing-based tour operator founded in 1993 that runs guided group and private tours to North Korea (including the Pyongyang Marathon) and a growing portfolio of international expeditions across Central Asia, Mongolia, and other restricted or unusual destinations, serving adventure travelers and event tourists.

Ownership category

akta.pro rank

Product category

Adventure Travel Services

NAICS

Tour Operators (561520), Scenic and Sightseeing Transportation (487)

SIC

Services-Amusement & Recreation Services (7900)

akta.pro primary industry

Custom Itinerary Planning with Booking & Fulfillment (Full-Service) (THAKAOAO)

akta.pro secondary industries

Adventure & Expedition Custom Itinerary Planning (THAKAOAC), Multi-Country/Regional Circuit Tour Operators (THAKADAK), Group & Small-Group Custom Itinerary Planning (THAKAOAF)

Keywords

• Adventure travel tours
• North Korea tourism
• Central Asia tours
• Cultural expedition tours
• Group tour packages

Headquarters

HQ city

Beijing

HQ country

China

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. North Korea (DPRK) Group Tours: All-inclusive group tours to North Korea from Beijing including transport, accommodation, meals, local guides, driver, and Koryo staff. Tours range from 4-night budget to 7-night standard itineraries covering Pyongyang and regional destinations.
2. Private Independent Tours: Customized private tours to Rason and other destinations. Pricing varies by group size (2-10+ travelers) and tour length (3-4 nights). Includes transport, entry permits, accommodation, meals, and local guides.
3. Pyongyang Marathon Tours: Exclusive travel partner for the Pyongyang International Marathon. Tour packages include race registration and marathon-related activities alongside standard tour elements.
4. International Tours: Tours to Central Asia (Turkmenistan, Tajikistan, Kyrgyzstan, Kazakhstan, Uzbekistan), Mongolia, Middle East, and other unusual destinations. Includes expedition-style tours like Pamir Highway and Five Stans tours.
5. Specialist Tours: Specialized tours including Mass Games, budget tours, and custom independent tours to North Korea.

Pricing tiers

Go-to-market motion3 records

Distribution channels1 record

Marketing channels7 records

Core offering

Koryo Tours arranges all-inclusive guided tours to North Korea (DPRK) and other unusual destinations, offering group tours, private independent tours, and special event tours such as the Pyongyang Marathon and Mass Games. The company also operates international tours to Central Asia, Mongolia, the Middle East, Russia, and other remote regions, bundling transport, accommodation, meals, local guides, and visa assistance into packaged itineraries. Customizable itineraries and add-on services are sold directly to individual travelers via the company's website.

Product overview

Koryo Tours is a British-owned tour operator founded in 1993, specializing in tours to unusual and challenging destinations. The core product portfolio centers on North Korea (DPRK) tours, offered as Group Tours (classic, budget, and specialist variants), Private Independent Tours (including Rason packages), and Special Event Tours (Pyongyang Marathon and Mass Games). The company provides extensive extras and add-ons including visa assistance, transport upgrades, and activity add-ons. International operations span Central Asia (Mongolia, Turkmenistan, Tajikistan, Kyrgyzstan, Kazakhstan, Uzbekistan, Afghanistan), the Middle East (Iraq, Syria, Yemen, Socotra), South Asia (Bhutan, Bangladesh, Timor-Leste), Africa (Libya), and Russia/The Caucasus. A related brand, Koryo Studio, handles documentary films, humanitarian work, cultural engagement, and North Korean art. The company operates as a traditional tour operator without a digital/software product platform.

Differentiator

Problem solved

Functional benefit

Brands

• Koryo Studio: Cultural engagement, humanitarian work, sport, film projects, and North Korean art exhibitions.

Products and services

• North Korea (DPRK) Group Tours All-inclusive guided group tours to North Korea departing from Beijing, featuring classic itineraries to Pyongyang and Mt. Myohyang, with sample options ranging from 4 to 7 nights. Includes transport, accommodation, meals, local guides, driver, and Koryo staff. Priced 600-1500 EUR per person.
• North Korea Private Independent Tours Customised private tours to North Korea, including 3-night and 4-night packages to Rason Special Economic Zone, with flexible dates and tailored itineraries. Pricing ranges from 705-1075 EUR per person depending on group size and duration. Two professional Korean guides and a driver accompany tours.
• Pyongyang Marathon Tours Exclusive travel packages to the Pyongyang International Marathon, offering 5K, 10K, Half Marathon, and Full Marathon options, with Koryo Tours as the official exclusive travel partner. The marathon is a World Athletics Label Road Race.
• Mass Games Tours Specialized tours to attend the North Korean Mass Games, featuring performances at Rungrado May Day Stadium with up to 100,000 performers. Includes standard tour elements such as transport, accommodation, meals, and local guides.
• North Korea Budget Tours Budget-friendly group tours to North Korea offering 4-night sample itineraries at reduced pricing compared to standard tours. Includes transport, accommodation, meals, and local guides.
• North Korea Specialist Tours Specialized tours focusing on specific themes or interests within North Korea, such as cultural, photographic, or historical themes. Includes tailored itineraries and expert guides.
• Mongolia Tours Tours to Mongolia including the Golden Eagle Festival expedition (from 2900 USD per person), Soviet Mongolia exploration (from 2100 USD per person), and general Mongolia tours. Led by Rich Beal and other expert tour leaders.
• Turkmenistan Tours Tours to Turkmenistan featuring Ashgabat city tours, Darvaza Gas Crater camping ('Gates of Hell'), Caspian Sea coast visits, and ancient Silk Road sites. Priced from 2450 USD per person for 7-night tours. Single supplement is 50 USD per night. Optional Merv extension available at +650 EUR.
• Pamir Highway Mountain Crossroads Tour 13-night expedition tracing the M41 Pamir Highway from Bishkek, Kyrgyzstan to Dushanbe, Tajikistan, featuring Silk Road history and dramatic mountain scenery. Priced from 3150 USD per person with 50% deposit required. Application deadline June 15, 2026.
• Five Stans Tour 21-day odyssey covering all five Central Asian 'Stan' countries: Kyrgyzstan, Kazakhstan, Tajikistan, Uzbekistan, and Turkmenistan. Priced from 5700 USD per person with 50% deposit required.
• Uzbekistan and Karakalpakstan Adventure Tour Tours covering Uzbekistan's Silk Road cities (Samarkand, Bukhara, Khiva) plus remote Karakalpakstan featuring the Aral Sea ship graveyard. Priced from 2670 USD per person with 50% deposit required.
• Koryo Studio Cultural and engagement projects including documentary films, feature films, humanitarian work, cultural engagement programs, sports initiatives, and North Korean art exhibitions. Operated as a subsidiary of Koryo Tours.

Quantifiable outcome

• Zero safety incidents for tourists following rules since 1993
• +1 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered flagship, minor and core.

• World Athletics (formerly IAAF)flagshipStrategic or Co-development PartnerKoryo Tours is the exclusive travel partner of the Pyongyang International Marathon, which holds World Athletics Label Road Race status. This exclusive partnership positions Koryo as the sole operator for this major international sporting event in North Korea.
• Hampton by Hilton Yanji City CenterminorOthersCooperation for hotel accommodation in Yanji (China gateway to Rason). Twin room with breakfast available at 55 EUR per night for travelers on Rason private tours.
• Novotel Beijing PeaceminorOthersCooperation for hotel accommodation in Beijing. Twin room with breakfast ranging between 105 EUR and 180 EUR per night depending on season and room class.
• Local Ground OperatorscoreChannel Partner/ Reseller/ DistributorIn each destination, local guides employed by local partners accompany groups. Local guides are proficient in English with extensive local knowledge and experience working with Koryo Tours. Two professional Korean guides and a driver accompany Rason tours.
• British and Swedish Embassies in PyongyangcoreStrategic or Co-development PartnerKoryo Tours maintains regular contact with British and Swedish Embassies in Pyongyang for safety and security coordination. Staff in North Korea maintain mobile phone contact with Beijing office and embassy contacts.
• Air KoryocoreChannel Partner/ Reseller/ DistributorNational airline of North Korea used for group tours. Fleet includes Tupolev Tu-204-300 planes (2008 and 2010). Air Koryo has been in operation since 1956 with no fatal accidents. Alternative flights available via Air China.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Broad incumbents

• Intrepid Travel: Large global adventure travel company with broad small-group itineraries across Asia, Central Asia, and the Middle East. Competes on the international-tour side of Koryo's portfolio with greater scale and a wider distributor footprint.
• Dragoman: Long-established overland adventure tour operator covering Central Asia, the Middle East, and Africa. A larger competitor with broader geographic reach and similar expedition-style offerings.

Direct peers

• Wild Frontiers: Adventure travel operator focused on off-the-beaten-path destinations including Central Asia, the Caucasus, and the Middle East. Comparable to Koryo's international portfolio outside DPRK.
• KTG Tours: One of the largest North Korea tour operators, offering group and budget tours to the DPRK. Direct competitor on virtually the same North Korea product line with overlapping customer base.
• Undiscovered Destinations: Tour operator specializing in unusual destinations across Central Asia, the Middle East, and Africa. Closely comparable to Koryo's international unusual-destination portfolio.
• Travel The Unknown: UK-based operator offering small-group tours to lesser-known destinations including Central Asia and the Middle East. Competes with Koryo's international expedition portfolio.
• Young Pioneer Tours: Direct competitor specializing in budget-friendly group tours to North Korea and other restricted destinations. Very similar product focus on DPRK tourism and a comparable price point.
• Uri Tours: North Korea tour specialist offering group and custom itineraries to the DPRK. Competes directly with Koryo Tours for English-speaking Western travelers seeking DPRK access.
• Lupine Travel: UK-based tour operator specializing in unusual and hard-to-visit destinations, including DPRK. Overlaps with Koryo on niche, geopolitically-sensitive travel and adventure clientele.
• All Points North Korea: Dedicated North Korea tour operator offering group tours, private tours, and marathon packages. Direct competitor in Koryo's core DPRK segment with similar event-driven product.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/watch?v=ZcbfouzNbhM&ab_channel=KoryoTours
• Facebookfacebook.com/koryotours
• Instagraminstagram.com/koryotours
• Xx.com/koryotours
• LinkedInlinkedin.com/company/koryo-tours

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Koryo Tours